The quantity of online communications globally across businesses is growing rapidly. It’s stated within the world payment report 2018 that, non-cash transactions has reached 482.6 billion in 2016, which is 9.8% growth since 2012 and is predicted to follow the growing trend within the forecast period. Consistent with retail tech news, e-commerce retailing covers almost 12% of the entire retail industry.
The raging demand for online retailing across the planet is predicted to drive the web payment, thereby, propelling the payment gateway market over the forecast period. Additionally, the retail enterprises are meticulously adding payment gateway(s) to their standalone website to fuel the consumer’s order and build goodwill. As an example, BJ’s Wholesale Club, an American membership-only warehouse club, incorporated PayPal gateway for its online customers within the year 2018. This is often likely to spice up the market growth over subsequent recent years.
“Global Payment Gateways Market was Valued at US$ XX Mn in 2018 and it is Expected to Reach More than US$ XX Mn by 2027, Likely to Grow with the CAGR of 17.23% During the Forecast Period”
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Asia-Pacific is exceptionally overshadowing other regions in terms of adoption of the web transaction. The smartphone penetration in India was 26% in 2018; and consistent with RBI, the mobile payment transaction volume increased by about USD 10 billion within the same year, due to increasing internet penetration and smartphones within the country. Also, China has expanded its mobile and online payment services through ascending the web penetration within the rural areas of the country, which might not only encourage the purchasers to transact online but also boost the payment gateway, Alipay especially , thereby, propelling the market growth.
Apr 2019 – Stripe broadcasted the procurement of Touchtech Payments. It’s a startup out of eire that works with banks to assist them build and manage the verification process, which needs the customer to supply two different sorts of authentication from cardholders to process transactions. This acquisition will help the corporate to organize for new regulations in Europe and to enhance security in online transactions.
July 2018 – Alipay expanded its payment service in London, due to gaining acceptance and a serious tourist destination. This is often expected to fuel the expansion of the company’s global footprint and convey a high influx of revenue. Key industry players like Carl Zeiss AG, Hexagon AB, Nikon Corporation, Perceptron, Inc., Pantac Payment Gateways, Renishaw PLC, Faro Technologies, Mitutoyo Corporation, Jenoptik AG, Exact Payment Gateways Inc., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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